Impact of cloud computing on asset & inventory management: 5 facts you shouldn’t ignore

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Impact of cloud computing on asset inventory
management 5 facts you shouldnt ignore
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Its indeed shocking to know that more than 40
of small businesses never track their inventory
and a whopping 67 of supply chain managers use
spreadsheets to manage their assets and track the
flow of inventory. In 2020, it was found that
the value of out-of-stock items across the world
was 1.4 trillion. During the pandemic in 2020,
losses due to supply chain mismanagement and lack
of a centralized system rose to 4 trillion, and
well, this is indeed unfortunate. Trillions of
dollars can be saved and used in other
business-growth activities if organizations
across the globe deploy a cutting-edge, and
tech-powered solution for asset and inventory
management.
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Why Cloud Based Asset Inventory Management An
Introduction
Cloud computing has been hailed as a savior for
manufacturers, retailers, wholesalers, and any
business, which needs to monitor, track and
optimize inventory tracking and asset
management. A cloud-based inventory and asset
management can be described as a SaaS-based
platform (Software As a Service), which empowers
businesses to track and monitor their assets,
inventory status, and logistics in real-time, and
get accurate business insights to make a smart
business decisions. Traditionally, companies
used to perform this manually, with pen and
paper, or spreadsheets. And this is the reason
that 4 trillion was lost suddenly when Covid hit
the masses, and businesses were shut down.
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Check out some common, and most popular features
of a typical Cloud-based Asset and Inventory
Management System

• Cost Optimization Strategies
• Real-Time information about inventory status
• Order management
• Vendor/Supplier communication
• Support tickets
• Loss and fraud prevention
• In short, Cloud computing is revolutionizing how
  businesses are tracking and monitoring their
  assets and inventory.

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Impact Of Cloud On Asset Inventory Management
Some real facts Two years, it was reported that
globally, there exist overstocked items worth
176.7 billion and 568.7 billion worth of
out-of-stock goods inside inventories, across the
world. This is indeed shocking, and sheer
wastage of resources. Once you introduce Cloud
into the whole gamut of asset and inventory
management, then it automatically optimizes the
operations and empowers the management to take
the right decisions, at the right time.
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Here are the major impact of the Cloud on asset
management and inventory tracking, which you
shouldnt ignore
Unprecedented Automation
Businesses can automate most of the critical
processes and operations when it comes to asset
and inventory management, and thus, induce a
system that is programmed to bring in results.
Activities such as product tracking,
multi-channel routing, inventory counts, and more
can be fully automated with Cloud-based inventory
management system. Cloud computing has the
capabilities to completely streamline and
automate supply chain operations.
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Real-Time Business Intelligence
Now, this is one of the biggest advantages of
Cloud-based asset and inventory management
operations. Businesses are now able to get
real-time visibility of their inventory position
and remove physical barriers such as time and
location to accurately track their inventory.
With real-time information about the supply,
demand and inventory status, management knows
exactly where their business is going, and at
which speed.
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Seamless Integrations With 3rd Party Tools
Various 3rd party tools such as order fulfillment
apps and distribution software, CRM, sales and
marketing tools, accounting software and more can
be seamlessly integrated with a Cloud-based asset
and inventory management system, giving wings to
your operational capabilities.
Safety, Security Peace of Mind
Standalone, and outdated systems can be easily
hacked, and manipulated by hackers who can steal
valuable data from your inventory, and harm your
business prospects. With Cloud platforms such as
AWS and Microsoft, there exist several layers of
data security and safety, which translates to
peace of mind.
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Advanced Analytics Data Monitoring
Cloud-based asset and inventory management
systems can also have data analytics software,
and data monitoring tools, which combined with
real-time insights can give unprecedented control
and transparency over the operations. Analytics
can be effectively used to find the trends, and
the insights related to demand and supply, and
this translates to powerful business intelligence
for optimizing all aspects of your operations.
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How To Implement Cloud-Based Asset Inventory
Management Solution?
We at TechAhead can create a powerful, scalable,
and robust Cloud based asset and inventory
management solution for your business, which will
have

• Intuitive User-Interface for handling the
  operations smoothly, which is not only easy to
  navigate but also tweaked for maximum efficiency
  of your employees
• Exhaustive Usability to accommodate hundreds and
  thousands of SKUs, items, and products, based on
  a systematic and logical approach.
• Powerful Programming so that your business
  operations are not hampered, and the inventory
  management team is able to utilize the platform
  for maximum benefits.
• Enhanced Cloud Capabilities, which include data
  backups, iron-clad data security, centralized
  data repository, universal data access, platform
  and location independent data access, role-based
  data access and more.

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And most importantly, higher ROI as Cloud brings
down the IT expenses, and eradicates all manual
processes to free up your resources and helps you
to focus on core business operations. Connect
with our Cloud Experts, who can conceptualize,
design and deploy a powerful, ROI focussed
Cloud-Based Asset and Inventory Management System
for your business, and empower you to scale your
operations and have complete control over
inventory and assets. With TechAhead,
possibilities are endless.
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Contact Us
1 818-318-0727
www.techaheadcorp.com